Businesses Given Valuable Data Collection Tips

No Image Found!
Sherine Williams/BVI Platinum News

(PLTM) - Business owners in the BVI are being encouraged to use technology to give their companies the cutting edge by acquiring data that is already free to boost their profit. The insight was provided during the recent visit of Associate Professor Keith Carter of the National University of Singapore (Computing).

Professor Carter who has worked for Fortune 500 companies such as Goldman Sachs (a leading global investment banking, securities and investment management firm) was in the Territory for a Fintech Immersion initiative and targeted his message of data and business to the Rotary Club of Tortola – whose membership mainly consists of business professionals.

In presenting his message, which basically centered on the technological approach to tourism and business, Carter said, “I think it all starts with a strategic business question – what is the key parts of GDP that we want to grow – whether it’s a new area in trade and industry.”

He talked about how businesses that offer complimentary wireless internet (WIFI) are by accident also collecting information from the user. Information, which he said can assist business planning.

In expanding on his point about information being shared via business WIFI, Carter said, “I say by accident because unless they do something with it—store it in some way then all they would be able to tell is – the restaurant down the road some people went there for dinner or if I coordinate with the financial services office I can see who is staying at my hotel.”

The Assistant Professor said, “I think that you have to start off with a question. I think for the BVI the question is how can I delight a tourist that comes. If a tourist walks through the airport can we say welcome back, and hopefully welcome home; and by learning a bit more about them we can.”

From a business perspective, the professor said that entrepreneurs in order to get the most out of data should start with an object in mind, or a central question. “For business owners how do we use the information receive to answer the question what is the next best thing to do in my business to delight my customers” he told the Rotary Club.

After advising the audience of how data can be important to their profitability, the Assistant Professor warned that the business owners should employ tact when trying to gather this information.

“The other challenge with data is of course is not to be so obvious about collecting it, because that’s when people get uncomfortable. Of course even I didn’t feel very comfortable providing my email address on the immigration card, then I thought and I said I like this destination I wouldn’t mind if they contact me with some tourist information. So let people feel comfortable, do not be intrusive," the Professor said.

-----
Copyright 2023 by Virgin Islands Platinum News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Reader Opinion
Please note that the opinions posted are the opinions of its author and does not in any way reflect the views of the management, staff, parent company or sponsors of Virgin Islands Platinum News.
There are no comments to show at this time.
Cruise Schedule
IN PORT - TODAY ( 29 March )
We have no cruise ship in port on this day!
IN PORT - TOMORROW ( 30 March )
We have no cruise ship in port on this day!